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Loan Application with GMI Gender Mistake

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Question: 
We have a loan application that was taken face to face. The LO marked the GMI sex box as female when the borrower was male. Obvious mistake. The loan closed without being corrected. We have had contradicting information from auditors and regulators that say that we report exactly what was put on the application and that we should report the correct sex as we know it was an error.... which way do we go here?
Answer: 

If the applicant made the mistake leave it as is, if the loan officer made the mistake correct it.

First published on 11/01/2015

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